TechWave, a software development firm, aims to gain a competitive edge in the rapidly evolving tech industry. To achieve this, they focus on…

CA Intermediate · Financial Management and Strategic Management · MTP · September 2024
TechWave, a software development firm, aims to gain a competitive edge in the rapidly evolving tech industry. To achieve this, they focus on building their strength in artificial intelligence (AI) and machine learning (ML). TechWave invests heavily in R&D, hires top talent with specialized skills, and forms partnerships with leading AI research institutions. They also provide continuous training for their employees to keep them updated with the latest advancements. By developing these, TechWave can create innovative AI-driven solutions that differentiate them from competitors and attract a growing number of clients seeking cutting-edge technology. What strategy is TechWave using to gain a competitive edge in the tech industry?
(A) Market segmentation
(B) Diversification
(C) Core competency building
(D) Cost leadership

Suggested Answer and Working Notes:

Correct Answer: Option (C)

Core competency building

Topics: Part-A: Financial Management, Part B: Strategic Management

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